Shell vows to invest at least $10bn in Brazil until 2021

Valor Econômico

Anglo-Dutch oil major Shell has an eye for Brazil. Although currently focused on executing a $30 billion global divestment program aimed at cutting down part of the debt from its acquisition of BG, the company plans to invest at least $10 billion in the country until 2021, CFO Jessica Uhl said. Shell is even eyeing new expansion opportunities in Brazilian exploration and production, natural gas and electricity generation. Shell became the second biggest oil producer in Brazil with the BG deal, and the country now generates around 10% of its global output at 320,000 barrels a day.